Home price growth slows as July sales drop to 27-year low

Home price growth slows as July sales drop to 27-year low

Last year, the Southern California housing market looked like a runaway train, with bidding wars driving home prices higher and higher, and desperate buyers waiving loan contingencies and even inspections.
Faced with rising mortgage rates, however, July’s market looked more like an uphill locomotive that’s running out of steam.
Prices slipped downward for a second straight month, and sales…

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